Skoda Chief Klaus Zellmer Named New CEO of Struggling Volvo Cars
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5 Articles
Volvo Cars' share price has fallen more than 45 percent this year and its operating margin shrank to 1.1 percent in the second quarter. Now the board is bringing in its new CEO from one of Europe's most profitable car brands. Yesterday, Volvo Cars announced that Klaus Zellmer, 59, will take over as president and CEO no later than October 1, 2027. He will then leave Skoda Auto, where he delivered the company's best year ever in 2025 with an opera…
The board of directors of the European automotive industry has just moved one of its most important pieces. Volvo Cars’ board of directors has announced the appointment of Klaus Zellmer as the new president and CEO of the Swedish company, a movement that comes at a time of profound transformation for the Gothenburg brand. Zellmer will take office by 1 October 2027, leaving a margin of more than a year to prepare the relay. Håkan Samuelsson, curr…
Klaus Zellmer, current CEO of Skoda, will be Volvo’s new president and CEO, who just a few days ago presented his strategic plan for the coming years. Among other things, the Swedish firm will split its global offer into two regional ranges. Volvo has new president and CEO: Klaus Zellmer, who since 2022 led Skoda, one of the pillars of the Volkswagen Group in the European market. He will replace Håkan Samuelsson, who returned to the Swedish firm…
The stock market starts the week with gains. Volvo Cars rises after Sunday's CEO announcement.
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